Solana rises up the ranks and becomes fourth biggest crypto in the world

The crypto market can be very strange at times. Companies that have just started in the industry can find success in a matter of days and easily climb the charts to become part of the top 10 cryptocurrencies in the market. You think that is not possible? Well, this happens to be the exact story of Shiba Inu, which is now one of the top ten biggest cryptocurrencies in the market.

On the other hand, there are certain cryptocurrencies that take a little while to start. But when they do, they can take the entire market by storm and easily dominate it. This happens to be the story of Solana, which has now officially become the fourth largest cryptocurrency in the market.

As of now, Solana has overtaken both of its major rivals, Tether and Cardano. The SOL token skyrocketed to a price of $245 in a relatively short span of time, as it rode the wave of some of the biggest cryptocurrencies in the industry. Thanks to the incredibly bullish moves that they were making, Solana was able to reach a price of $245.

It seems that the entire market has been seeing a rise of Layer 1 assets, which also includes Ethereum and Pokadot. Oddly enough, both of these major cryptocurrencies saw all-time highs along with Solana, which shows a new trend. Terra and avalanche also came fairly close in their prices as well, with both cryptocurrencies rising to incredible new heights as a result.

Of course, looking at the success of SOL primarily through the lens of its current rise is quite impressive. However, looking at its history and how much it has managed to grow over the past year shows just how far it has come. Since January, Solana has seen a rise of almost 17,000%. Through this rise, its market cap has reached an astounding $72 billion, which makes it the fourth largest crypto according to market cap. If Solana is looking to surpass the current number three spot, it will have to close the almost 30% gap between itself and Binance Coin. But by looking at how well the market is rising, it is very possible for it to reach the big three.

The main reason for Solana’s rise to the top is easily just how much it has been able to challenge some of the biggest coins in the market. Many people considered SOL to be the real Ether2.0, since it was both cheaper and faster than the second biggest crypto in the market. And so far, it looks like it will be maintaining its current streak and unique selling point.